Gulf Craft will invest more than $100 million over the next five years to develop a brand new construction facility in the heart of the Dubai Maritime City (DMC). The approximate 900,000-square-foot freehold plot within the world-class maritime district will contain a state-of-the-art shipyard for the ship builder.

Gulf Craft Chairman Mohammed Hussein Al Shaali noted that construction of the facility will open strategic new horizons for his company’s prospective global plans. With a prominent footprint and base of operations within Dubai, Gulf Craft expect to be at the heart of its regional as well as an international market.

The new shipyard is also expected to allow Gulf Craft to further align with Dubai’s National Innovation Strategy designed to make the United Arab Emirates one of the world’s most innovative nations within the next seven years. The new shipyard will incorporate state-of-the-art elements in technology, design and operational efficiency.

Dubai Maritime City encompasses an area of more than 21.52 million square feet with the sole purposed of promoting the lifestyle and interests of the maritime community. With a sophisticated infrastructure and an environment that balances working and living conditions, Dubai Maritime City offers a variety of facilities that include housing, entertainment, retail and offices.